News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

President Trump to Announce Fed Pick Next Week

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President Donald Trump said he would announce his choice for the next leader of the U.S. central bank "sometime next week," and said he has "somebody very specific in mind."

Spain Seizes Power in Catalonia After Region Declares Independence

The monthslong standoff between Catalonia and the Spanish government escalated dramatically on Friday when Prime Minister Mariano Rajoy said his government would dissolve the region's parliament, fire its police chief and set new regional elections for Dec. 21.

Tech Earnings Drive Nasdaq Composite Sharply Higher

A busy week of robust corporate earnings lifted the S&P 500 and Nasdaq Composite toward new highs. The indexes rose 0.8% and 2.2%, respectively.

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U.S. Posts Solid 3% Economic Growth, Despite Hurricanes

The U.S. economy posted its best six-month stretch of growth in three years, rebounding quickly from two hurricanes and showing momentum for the final quarter.

U.S. Consumer Sentiment in October Hit Its Highest Level Since 2004

A measure of U.S. consumer sentiment hit its highest level since 2004 this month, but consumers' expectations for short-term inflation dipped, a potential red flag for the Federal Reserve.

ECB, Fed Are Growing Apart, Moving Markets

The European Central Bank gave notice that its stimulus will be around for a while, widening a gap between monetary policy expectations in the eurozone and U.S. that is set to further influence financial markets.

Oil Rises; Brent Tops $60 a Barrel

Oil prices rose, with Brent crude topping the elusive $60-a-barrel mark for the first time in more than two years amid hopes that OPEC will continue curbing output.

White House Study Sees Faster Economic Growth From Tax Cuts

Cutting the U.S. corporate tax rate to 20% and allowing companies to immediately write-off the cost of their capital spending would boost business investment, spur faster economic growth and improve household income, White House economists said.

Brazil Oil Auction Beats Expectations

Oil executives and government officials were ebullient following the conclusion of a major oil auction in Brazil, where a yearlong effort to lure foreign investment into the energy sector appeared to have paid off.

Venezuela State Oil Company Says It Is Making Bond Payment

Venezuela's cash-strapped state oil company said it would make an $842 million bond payment in a bid to quell default fears as the energy giant struggles with falling crude production and a punishing economic crisis.

(END) Dow Jones Newswires

October 27, 2017 19:15 ET (23:15 GMT)